Huazhi Hu: [Foreign Language] [Interpreted] Thanks for your questions. The EHang 216-S is designed for the short-distance air transportation within the city. So, according to our test, our product is capable to do the air taxi services within the city. In order to achieve the longer lifetime, we will continue to optimize our power system and the battery system. As you know that there are many companies in China have invested in the solid-state lithium batteries, for example, CATL, and recently, we have also invested in a domestic solid-state lithium battery company. So, we are making efforts to achieve the goal that to tackle the flight performance in the future. Our goal is to achieve a longer range, but meanwhile, we will ensure safety.
During we are doing type certification with EHang 216, the VT-30 development pace is much slower, but now we are — after the type certification of EHang 216, we are also developing and working on the long-range model, which is the VT-30, a lift-and-cruise model for the intercity longer-range air mobility. The EHang 216L have obtained the operations — trial operation certificate for the cargo transportation previously. So after there is a certification standard for this kind of aircraft, we will supply for type certification for the EHang 216L. Before we obtain the type certificate of the EHang 216L, we can still expand our business based on the trial operation permit that we have obtained. As the EHang 216L and S share the same flight platform, so we can leverage the experience from the type certification for the passenger model, so we can expect to take a shorter time on the EHang 216L type certification than that of the passenger one.
Thank you.
Unidentified Analyst: Thank you.
Operator: Thank you. We are now going to proceed with our next question. And the questions come from the line of [Laura Li] (ph) from Deutsche Bank. Please ask your question. Your line is open.
Unidentified Analyst: Hey, thank you for taking the questions, and congratulations on receiving the first type certificate. My first question is, we already talked about the backlog orders, but just clarification on this. Would you expect to be able to collect deposits? And also, when do you expect the first customer paying flight to occur? And my second question is, how should we think about the cash burn trajectory and your future financing plans? Thank you.
Conor Yang: Yeah, thank you for the question. For your first question, as mentioned before that we are — after securing the TC, we have seen a surge in interest and encourage from many domestic and global customers for our pre-order and order of intent. We charge a small non-refundable deposit which varies by customers to confirm their commitment to purchase. And for the purchase order, right now, we collect about 30% for down payment and then for the remaining 60% to 70% before delivery. So, for your second question on the cash burn situation and capital need, our current average monthly cash burn rate of our operation is less than RMB10 million or roughly less than about US$1.4 million. At the end of the third quarter, we have RMB295.6 million of cash, cash equivalent and short-term investments and restricted short-term deposit.
Therefore, we believe that our current cash and cash equivalents of our anticipated cash flow from operations will be sufficient to meet our anticipated working capital requirement. Looking forward, as we sell and deliver more products per customers’ request and steadily expand our commercial operations in the future, our cash flow will improve, and we are confident that our company can generate positive cash flow in the later part of 2024. Thank you.
Unidentified Analyst: Okay. Thank you so much.
Operator: Thank you. We are now going to proceed with our next question. And the questions come from the line of Xuan Chen from Haitong Securities. Please ask your question. Your line is open.
Xuan Chen: [Foreign Language]
Conor Yang: Yeah. I’ll kind of briefly repeat your question that — your first question is the — how about the order for the next two years, and then, the validation of type certificate in overseas, how long will it take, and thirdly, regarding the ASP price of 216. As we see that our guidance for the fourth quarter basically, the 216 volume has increased quite a lot, and for the next three years actually, I will say that the first year of — next year of 2024, the majority of the order will come from domestic sightseeing places or scenic spots in China. We estimate that in China, there are over 6,000 scenic spots that can apply our products in their location to enhance their revenue. Even we use like 10% penetration rate in each site and use five units, that will be like over 3,000 216 demand from domestic scenic spot in the next several years.
